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Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES        
Premiums $ 63,354 $ 51,537 $ 195,020 $ 140,804
Policy charges and fee income 438,781 610,101 1,256,155 942,166
Net investment income 210,762 179,110 582,190 373,277
Asset administration fees 68,554 91,938 219,576 104,425
Other income (loss) (163,701) 61,409 (803,321) 105,283
Realized investment gains (losses), net 23,958 (5,008,612) 1,522,774 (5,054,506)
TOTAL REVENUES 641,708 (4,014,517) 2,972,394 (3,388,551)
BENEFITS AND EXPENSES        
Policyholders’ benefits 122,139 386,003 500,009 557,992
Interest credited to policyholders’ account balances 105,170 (304,406) 391,640 (200,836)
Amortization of deferred policy acquisition costs 96,048 138,794 731,768 225,749
General, administrative and other expenses 241,370 (1,039,337) 795,514 (807,697)
TOTAL BENEFITS AND EXPENSES 564,727 (818,946) 2,418,931 (224,792)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total 76,981 (3,195,571) 553,463 (3,163,759)
Income tax expense (benefit) (1,983) (744,016) 69,090 (782,332)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 78,964 (2,451,555) 484,373 (2,381,427)
Equity in earnings of operating joint venture, net of taxes (253) 466 (75,411) 621
NET INCOME (LOSS) 78,711 (2,451,089) 408,962 (2,380,806)
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments (3,649) 877 (11,519) (3,904)
Net unrealized investment gains (losses) (862,220) (70,667) (2,775,879) (204,902)
Total (865,869) (69,790) (2,787,398) (208,806)
Less: Income tax expense (benefit) related to other comprehensive income (loss) (181,602) (15,007) (584,114) (43,342)
Other comprehensive income (loss), net of taxes (684,267) (54,783) (2,203,284) (165,464)
Comprehensive income (loss) $ (605,556) $ (2,505,872) $ (1,794,322) $ (2,546,270)